Innovation Models: Fail Fast or Succeed

Many would identify failure as an undesirable outcome of an initiative. However, an innovative organization expects failure much more frequently than success. Innovative failure is only negative when nothing is learned in the process. Although failure is clearly not the objective in any strategic plan, it can provide learning that will help shape future plans and expectations. This course examines models of innovation to prepare individuals in leadership positions, particularly McGrath and MacMillan’s entrepreneurial leadership and Hammond, Keeney, and Raiffa’s model for effective decision-making. One key concept of this course is that models never stand alone but must be combined with other models and manipulated according to the situation. Participants become familiar with the positive and negative aspects of each model with an emphasis on how positive aspects can be adapted. The “fail fast or succeed” mantra can be applied to strategic plans as well as the adaption of these innovation models, helping participants become comfortable with constructive failure as part of the innovation process.

Upon completing this course, participants will be able to:

• Adopt the technical concept of iteration
• Foster an environment of innovation
• Understand the core axiom within innovation design of “fail fast”
• Utilize the strengths of the models presented to become comfortable with failure that leads to improvement
• Learn to adapt what is learned through “failing fast” to make an initiative a success

Register 21 days before class start date and save 10%! Enter discount code EARLY10 during registration.

Register 21 days before class start date and save $250! Enter discount code EARLY250 during registration.

Is there a discount available for current students?

UMBC students and alumni, as well as students who have previously taken a public training course with UMBC Training Centers are eligible for a 10% discount, capped at $250. Please provide a copy of your UMBC student ID or an unofficial transcript or the name of the UMBC Training Centers course you have completed. Asynchronous courses are excluded from this offer.

What is the cancellation and refund policy?

Student will receive a refund of paid registration fees only if UMBC Training Centers receives a notice of cancellation at least 10 business days prior to the class start date for classes or the exam date for exams.